(1) AUDITS.—A community development entity that issues an investment approved by the department as a qualified investment shall be deemed a recipient of state financial assistance under s. 215.97, the Florida Single Audit Act. However, an entity that makes a qualified investment or receives a qualified low-income community investment is not a subrecipient for the purposes of s. 215.97.
(2) EXAMINATIONS.—The department may conduct examinations to verify compliance with the New Markets Development Program Act.
History.—ss. 12, 15, ch. 2009-50; s. 201, ch. 2011-142.
1Note.—Expires December 31, 2022, pursuant to s. 15, ch. 2009-50.
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